ZCBB vs. TFLO

Last updated Jun 6, 2026

ZCBB (Global X Zero Coupon Bond 2031 ETF) and TFLO (iShares Treasury Floating Rate Bond ETF) are both Government Bonds funds - ZCBB tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2031 Maturity Index while TFLO tracks the Bloomberg U.S. Treasury Floating Rate Index. Both are passively managed. At a correlation of -0.10, they often move in opposite directions. ZCBB charges 0.07%/yr vs 0.15%/yr for TFLO.

Performance

ZCBB vs. TFLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2031 ETF (ZCBB) and iShares Treasury Floating Rate Bond ETF (TFLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBB

• 1D: -0.46%
• 1M: -1.07%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFLO

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.61%
• 6M: 1.88%
• 1Y: 3.97%
• 3Y*: 4.74%
• 5Y*: 3.64%
• 10Y*: 2.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZCBB vs. TFLO - Yearly Performance Comparison

	2026 (YTD)
ZCBB Global X Zero Coupon Bond 2031 ETF	-0.80%
TFLO iShares Treasury Floating Rate Bond ETF	1.55%

Correlation

The correlation between ZCBB and TFLO is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	-0.10

Return for Risk

ZCBB vs. TFLO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TFLO

TFLO Risk / Return Rank: 100
TFLO Sharpe Ratio Rank: 100
TFLO Sortino Ratio Rank: 100
TFLO Omega Ratio Rank: 100
TFLO Calmar Ratio Rank: 100
TFLO Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZCBB vs. TFLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2031 ETF (ZCBB) and iShares Treasury Floating Rate Bond ETF (TFLO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ZCBB	TFLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	14.09	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	10.30	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	5.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.99	-1.49

Drawdowns

ZCBB vs. TFLO - Drawdown Comparison

The maximum ZCBB drawdown since its inception was -3.05%, smaller than the maximum TFLO drawdown of -5.01%. Use the drawdown chart below to compare losses from any high point for ZCBB and TFLO.

Drawdown Indicators

	ZCBB	TFLO	Difference
Max Drawdown Largest peak-to-trough decline	-3.05%	-5.01%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.16%	—
Current Drawdown Current decline from peak	-2.65%	0.00%	-2.65%
Average Drawdown Average peak-to-trough decline	-1.25%	-0.10%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	ZCBB	TFLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	0.28%	+3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.87%	0.35%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	0.46%	+3.41%

ZCBB vs. TFLO - Expense Ratio Comparison

ZCBB has a 0.07% expense ratio, which is lower than TFLO's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZCBB vs. TFLO - Dividend Comparison

ZCBB's dividend yield for the trailing twelve months is around 1.56%, less than TFLO's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TFLO iShares Treasury Floating Rate Bond ETF	3.90%	4.16%	5.21%	4.88%	1.68%	0.00%	0.36%	2.08%	1.65%	0.86%	0.31%	0.15%
ZCBB Global X Zero Coupon Bond 2031 ETF	1.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBB and TFLO in my portfolio?

ZCBB and TFLO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZCBB or TFLO?

On fees, ZCBB is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZCBB or TFLO?

ZCBB is cheaper with a 0.07% expense ratio, compared with 0.15% for TFLO.

Which ETF pays a higher dividend yield, ZCBB or TFLO?

TFLO has the higher dividend yield at 3.90%, compared with 1.56% for ZCBB.

What is the main difference between ZCBB and TFLO?

ZCBB tracks FTSE Zero Coupon U.S. Treasury STRIPS 2031 Maturity Index, while TFLO tracks Bloomberg U.S. Treasury Floating Rate Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.07% for ZCBB and 0.15% for TFLO.